ECONOMYNEXT – Ceylon Tea Brokers, a Sri Lankan tea brokerage, said it had acquired a subsidiary of another brokerage which has access to land on which it intends building a warehouse.
A stock exchange filing said Ceylon tea Brokers had entered into a share sale agreement with Lanka Commodity Brokers to buy Logicare Pvt Ltd. for Rs233 million.
Logicare owns the lease to a land in Muthurajawela, north of Colombo port, for 39 years.
The area is home to several warehouses of tea brokers which store tea meant for the Colombo auctions and export.
A stock exchange filing said Ceylon tea Brokers had entered into a share sale agreement with Lanka Commodity Brokers to buy Logicare Pvt Ltd. for Rs233 million.
Logicare owns the lease to a land in Muthurajawela, north of Colombo port, for 39 years.
The area is home to several warehouses of tea brokers which store tea meant for the Colombo auctions and export.
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